Tag: market update

In this series we’re taking a look at homes sold at various price points around LA’s Eastside in the first half of 2017. Since homes in today’s market rarely sell at their asking price, we’ll be focusing instead on selling price. What will a budget between $600,000 – $700,000 get you in Eastside LA and what kind of process should you expect? Read below to find out.

708 N. Adams St: This Spanish home in the Woodbury pocket of Glendale is about 100 feet from the highway and has 2 different apartment buildings staring down at it but if you can get past that it’s oozing with original Spanish character featuring a fireplace, leaded glass, hardwood floors, arched doorways, updated kitchen & bath, plus access to Glendale’s top-rated schools. Was asking $649,000 and sold for $669,000.

768 Museum Dr: Attention tiny home fans! What this little 1bd 683 sq ft bungalow lacks in square footage, it makes up for in character, updates, and serene outdoor space. Sitting on a woodsy lot on the edge of Moon Canyon in Mt Washington, you’ll probably spend much of your time hanging out on the almost 400 sq ft of decking or gardening in your shaded yard. This sits in one of the most coveted school districts in LA, but would be a tight fit for kids. Was asking $525,000 and sold for $665,000.

4906 Granada St: This 2bd 926 sq ft Spanish bungalow on a corner lot in Highland Park has been updated with refinished floors, new appliances, marble countertops, new decking, and 2 bathrooms. Was asking $649,000 and sold for $670,000.

564 Meridian Terrace: This 824 sq ft Highland Park Bungalow has been updated with modern finishes but also retains it’s original hardwood floors, built-ins, and vintage vibe. The xeriscaped backyard is crowned by a garage that’s been converted to a work studio with water, power, and casement windows. Was asking $659,000 and sold for $690,000.

3625 Edenhurst Ave:This Atwater Village home comes tenant occupied and in need of updates and repairs but it’s walkable to dozens of great shops and restaurants and in addition to the 1,369 sq ft main house this one has an entire secondary structure behind it – just imagine the short-term rental income potential! Was asking $679,000 and sold for $655,000.

5970 Graciosa Dr: Yes you can still get a home in the Hollywood Hills under 1 million! It’s on a teeny-tiny steeply sloped lot and needs work but this 794 sq ft cottage comes with hardwoods, a bonus loft space, vaulted ceilings, and peek-a-boo views. Was asking $699,999 and closed for $685,000.

329 Vista Pl: This 1,325 sq ft craftsman faces a lesser-known mostly unused walk-street and is accessible from the alley behind the home, which is technically Fisher St. That puts most guests entering the home through the back door and kitchen. If you can get past the backwards orientation it’s a great home in a historic pocket on a private lot with a ton of potential. Was asking $575,000 and sold for $605,000.

2622 Birch St: This Alhambra Spanish character home could use a scrubdown and some serious updates but it’s got a massive 8,000 sq ft flat backyard with a pool, Batchelder tile, built-ins, and I would be willing to bet there are some hardwood floors under that old carpet. Plus it’s in a super family-friendly area with a great school district. Was listed for $510,000 and closed for $670,000.

What to expect with a $600,000 – $700,000 budget: This price point will give you plenty of options, depending on whether size, finishes, or location is most important to you. You can find a small updated home in a hot area or a larger home that needs some work in a more off-the-radar area.

Like the ones under it, this too is a competitive price point with multiple offers being the norm so it’s good practice to set your search about $100,000 under budget, leaving some wiggle room for a potential bidding war, closing costs, and any unexpected repairs you may encounter. Ready to start looking? Click below to see what’s on the market now and click here –> to contact me today!

In this series we’re taking a look at homes sold at various price points around LA’s Eastside in the first half of 2017. Since homes in today’s market rarely sell at their asking price, we’ll be focusing instead on selling price. What will a budget between $500,000 – $600,000 get you in Eastside LA and what kind of process should you expect? Read below to find out.

1747 N New Hampshire Ave: Another one for the tiny house lovers! This 480 sq ft Los Feliz home on a 1,912 sq ft lot is super small any way you cut it but who cares because it’s basically the most adorable house ever and just happens to be in one of the best hoods in all of LA. Seriously I don’t know what this person did to steal this house away at this price (I see by their quick close they likely paid cash, that’s a start) but BRA-VO. Was asking $539,000 and sold for $592,000.

219 E. Avenue 32: This 740 sq ft 1910 bungalow has been tastefully updated with refinished hardwood floors and a pinterest-worthy clawfoot tub. It’s small but picture perfect and – what’s that I see – not one but TWO bathrooms?! Stop the presses. This Lincoln Heights darling is on a private street a stones throw from the Metro gold line, Highland Park, and Mt. Washington with easy access downtown via the 110. Was asking $499,000 and sold for $595,000.

4035 Verdugo Rd: This 1940s Glassell Park traditional is tucked right on the edge of Highland Park, Eagle Rock, and Glendale meaning easy access to all the shopping, food, and nightlife your little heart desires. It’s on a busy street but it makes up for it with 1,108 sq ft of interior space, arched doorways, a fireplace, hardwood floors, large bedrooms, and a huge detached 2-car garage with a bathroom that would make a great bonus studio space or mother-in-law apartment. Was asking $599,000 and sold for $586,100.

5036 Lathrop St: This remodeled 1920s El Sereno home features fancy new modern finishes, fancy new bamboo floors and a fancy new roof sitting on a massive ultra-private enclosed 6,629 sq ft lot with a fancy new deck overlooking the Montecito Hillside. The downside? It’s only 680 sq ft. But with all that fanciness who cares about the size? Was asking $499,000 and sold for $570,000.

5927 Piedmont Ave: This historic 1910 Highland Park craftsman sold as a probate went to a cash buyer so I’m hoping to see it pop back up as a super cute flip in the next year. It was filthy and in dire need of updates and repairs but what a sparking diamond in the rough with all those built-ins and original wood finishes, not to mention the awesome proximity to the Metro gold line Highland Park station and all the great shops and restaurants on Fig. Was asking $429,000 and sold for $555,000.

4339 Latona Ave: This 1958 Montecito Heights home looks small at only 756 sq ft but it’s big on Mid-Century vibes. Exposed wood vaulted ceilings, knotty pine kitchen cabinets, a clawfoot tub, a huge backyard, and even a private professional recording studio in the converted garage give you unlimited possibilities. Close to Highland Park and Mt. Washington with easy access to the 110. Was asking $499,000 and sold for $591,000.

7256 N. Figueroa: It’s good to know buyers wanting lots of square footage and a hip neighborhood still have options under $600k. Sure this 1,348 sq ft home sits on one of the busiest streets in Los Angeles and has a bus stop literally 24″ away from it, and sure the layout is a little funky with the triangular lot and long narrow living room. But this Eagle Rock location right on the edge of both Highland Park and Pasadena might make it worth it for the right buyer. Was asking $589,000 and sold for $570,000.

1504 Mohawk St: There’s really not much to this little 780 sq ft Echo Park bungalow on a 1,966 sq ft lot. It has distant views of the Hollywood sign but no garage. It’s been recently remodeled but looks dated and could use a refresh to make it pop. A home at this price point in this pocket is hard to find these days so for a buyer wanting to be in this Silver Lake/Echo Park location, this would be a good deal. Was asking $599,000 and sold for $581,000.

What to expect with a $500,000 – $600,000 budget: This can be a challenging price point but as you can see, finding something great is totally possible as long as you’re patient in your search, aggressive in your offer, and willing to sacrifice some square footage. Most homes in this range are still small, but you’ll find them in better pockets and with better finishes than the ones at the $500,000 and under level.

This is a competitive price point with multiple offers being the norm so it’s good practice to set your search about $100,000 under budget, leaving some wiggle room for a potential bidding war, closing costs, and any unexpected repairs you may encounter. Ready to start looking? Click below to see what’s on the market now and click here –> to contact me today!

In this series we’re taking a look at homes sold at various price points around LA’s Eastside in the first half of 2017. Since homes in today’s market rarely sell at their asking price, we’ll be focusing instead on selling price. What will $500,000 get you in Eastside LA and what kind of process should you expect? Read below to find out.

5606 Bushnell Way: This little vintage bungalow is in the Highland Park-adjacent neighborhood of Hermon, also bordered by South Pasadena and Monterey Hills. It could use some updates but with 1,152 sq ft of living space, hardwoods, built-ins, and a small but private backyard it’s a steal at this price. Was asking $525,000 and closed for $480,000.

1086 W. Edgeware Rd: Calling all you tiny home enthusiasts out there! This adorable updated 408 sq ft 1bd, 1ba Spanish Home sits in historic Angelino Heights with easy access to Echo Park Lake, Sunset Blvd, and the 101. The 1,779 sq ft lot is well-situated and feels much larger than it is, plus this home has a deck and a bonus finished basement storage space. Was asking $499,900 and sold for $480,000.

3867 Rosemead Ave: This 832 sq ft mid-century on a massive 9,600 sq ft lot in El Sereno could use some floorplan and surface updates but still has tons of potential. Not to mention Mid-Century homes are still all the rage. Was asking $439,900 and sold for $470,000. Maybe we’ll see it come back on this fall as a flip?

5055 Hub St: Admittedly not the cutest Highland Park house (seriously could they have at least put the shovels away before taking the photos?) and it’s only 650 sq ft but it is relatively updated and in walking distance to all the great stuff on York Blvd. Was originally listed at an ambitious $549,000 and sold for $490,000.

3202 Drew St: This tiny Spanish home sits on a private gated corner lot on the edge of Glassell Park with easy access to Highland Park, Silver Lake, and Atwater Village. The home would be so much better with some simple updates but overall it isn’t bad and having a completely gated property is wonderful. It does sit in a pocket heavy with rentals and multi-family homes and it has a neighborhood mural painted on one side of the exterior fence dedicated to someone who was once murdered on the block. Ouch! Was asking $449,000 and sold for $445,000.

Investors and buyers with plenty of cash resources got some great deals in the first half of this year as well;

This 804 sq ft Garvanza gem had tons of potential but needed some updates and heavy reinforcement to the brick foundation, selling under asking price at $500,000

This tiny 400 sq ft Echo Park home was sold for land value, closing at it’s asking price of $450,000

This home in Montecito Heights had incredible views but was sloping down a steep hill, needing major foundation reinforcement. It sold over asking price, closing for $470,100

This Eagle Rock home fronts to a busy street and was being sold for land value only – still it went way over it’s $398,000 asking price, going to a cash buyer for $465,000.

What to expect with a $500,000 budget: This is the hardest price point due to lack of inventory and fierce competition with cash investors and flippers. Many fixers won’t qualify for financing due to their condition so expect to see sellers requesting cash offers and properties listed “as is” with no repairs or credits granted. At this price a remodeled single family home in a hot hood will likely be around 500 sq ft and a home needing work in a more off-the-radar area will be around 1,000 sq ft. Many homes will have less-than-ideal situations such as highway noise, small lots, or apartment buildings next door.

If you’re an Eastside buyer with a loan and a budget of $500,000 or less you should consider exploring some outlying areas or expand your search to include condos and townhouses. Finding a home for $500,000 or less on the Eastside can be done but it will take time, patience, and an open mind. Contact me today, I’d love to help!

How are Los Angeles real estate stats looking compared to last year? The Eastside is on fire, baby! Highland Park, Mt Washington, Montecito Heights, and Cypress Park are all showing an increase in sales volume of over 30% compared with 2014, with Silver Lake/Echo Park coming in close on the tail at 29%. Thinking of buying or selling in Hollywood? Volume is up in Hollywood and East Hollywood a whopping 176% but Mid-Wilshire is apparently where the party is at, up 322% from last year. This map covers the MLS primary areas, which don’t include Pasadena, Altadena, and Glendale so I pulled those stats for you myself: Pasadena (North of 210) volume is up 14%, Altadena is up 16%, and Glendale (South of 134) is up 5%.